Malaysian industrial output experienced a year-on-year increase of 2.3% in September, reflecting strong export demand and robust performance in the country's manufacturing sector, according to reports from the Department of Statistics Malaysia (DOSM). The manufacturing sector's output specifically observed a significant growth of 3.2% compared to the same month last year, while electricity production also saw a rise of 3.9%.
Despite this growth, the mining sector faced a downturn, with output decreasing by 2.2% year-on-year in the same period. The growth in manufacturing was significantly propelled by export-oriented industries, which achieved an increase of 3.4% from September of the previous year. Within the export industries, the rubber product manufacturing segment showed remarkable growth, soaring by 8.6%, while the production of computer, electronics, and optical goods rose by 5.9%.
Conversely, domestic-oriented industries reported a total output rise of 2.7%, driven down by a sharp decrease of 14.9% in motor vehicles, trailers, and semi-trailers production. The moderation noted in processed food manufacturing, which grew by 3.5%, has also affected overall output. Looking at the third quarter of 2024, Malaysia's industrial production index recorded a year-on-year increase of 3.9%, fueled mainly by a manufacturing sector that expanded impressively by 5.8%.
In this quarter, the mining sector output declined by 4.6%, while electricity production rose by 5.1%. Quarter-on-quarter, there was a notable growth of 3.7% from the second quarter. Across the initial nine months of the year, Malaysia's industrial output registered a year-on-year increase of 3.9%..